TE Connectivity (NYSE:TEL) Rating Lowered to “Buy” at StockNews.com

StockNews.com lowered shares of TE Connectivity (NYSE:TEL) from a strong-buy rating to a buy rating in a report published on Tuesday.

A number of other brokerages also recently issued reports on TEL. Wells Fargo & Company increased their price target on shares of TE Connectivity from $151.00 to $155.00 and gave the stock an “equal weight” rating in a report on Thursday, January 23rd. HSBC raised shares of TE Connectivity from a “reduce” rating to a “hold” rating and set a $166.00 price target on the stock in a report on Thursday, January 23rd. Truist Financial lowered their price target on shares of TE Connectivity from $165.00 to $163.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. Robert W. Baird increased their price target on shares of TE Connectivity from $162.00 to $168.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Finally, Bank of America raised their target price on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, TE Connectivity currently has an average rating of “Hold” and an average target price of $167.00.

TE Connectivity Price Performance

TEL opened at $153.27 on Tuesday. The firm has a market cap of $45.73 billion, a P/E ratio of 24.48, a PEG ratio of 2.01 and a beta of 1.32. The firm has a 50-day moving average of $146.76 and a 200 day moving average of $148.19. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.10 and a current ratio of 1.68. TE Connectivity has a fifty-two week low of $137.61 and a fifty-two week high of $159.98.

TE Connectivity (NYSE:TEL) last issued its earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. The firm had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.92 billion. TE Connectivity had a net margin of 12.10% and a return on equity of 18.82%. The company’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter last year, the business earned $1.84 earnings per share. On average, research analysts expect that TE Connectivity will post 7.95 EPS for the current year.

TE Connectivity declared that its Board of Directors has approved a share repurchase plan on Wednesday, October 30th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the electronics maker to purchase up to 5.4% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at TE Connectivity

In other news, insider Shadrak W. Kroeger sold 3,889 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $151.13, for a total value of $587,744.57. Following the transaction, the insider now owns 25,976 shares in the company, valued at approximately $3,925,752.88. This trade represents a 13.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.90% of the company’s stock.

Institutional Trading of TE Connectivity

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in TE Connectivity by 14.2% in the fourth quarter. Vanguard Group Inc. now owns 32,378,995 shares of the electronics maker’s stock valued at $4,629,225,000 after acquiring an additional 4,029,596 shares in the last quarter. State Street Corp boosted its holdings in TE Connectivity by 2.1% in the third quarter. State Street Corp now owns 12,852,607 shares of the electronics maker’s stock valued at $1,940,615,000 after acquiring an additional 268,837 shares in the last quarter. Wellington Management Group LLP bought a new stake in TE Connectivity in the fourth quarter valued at $909,598,000. Geode Capital Management LLC boosted its holdings in TE Connectivity by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 6,015,210 shares of the electronics maker’s stock valued at $857,499,000 after acquiring an additional 33,340 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in TE Connectivity by 72.1% in the fourth quarter. Clearbridge Investments LLC now owns 4,064,822 shares of the electronics maker’s stock valued at $581,148,000 after acquiring an additional 1,702,825 shares in the last quarter. Institutional investors own 91.43% of the company’s stock.

TE Connectivity Company Profile

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor solutions in Europe, the Middle East, Africa, the AsiaPacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.